Business Ethics Before “Enron Crises”
Concept of Business Ethics:
The notion of ethics in business can be traced back to the earliest forms of bartering, based on the
principle of equal exchange. Countless philosophers and economists have examined the topic, from
Aristotle and his concept of justice to Karl Marx’s attack on capitalism. But the modern concept of
business ethics dates back to the rise of anti-big business protest groups in the United States in the
1970s. The subject gradually became an academic field in its own right, with both philosophical and
empirical branches. Then, thanks to government legislation, ethics have been incorporated into
businesses, reflected today in corporate social responsibility strategies and codes of conduct. Business
ethics is now not only a firmly established academic field, it is something companies realize they need to
manage and internalize.
The concept of business ethics arose in the 1960s as companies became more aware of a rising
consumer-based society that showed concerns regarding the environment, social causes and corporate
responsibility.
Definition of Business Ethics
Business ethics is the study of proper business policies and practices regarding potentially controversial
